Central Banks can safely invest in Bitcoin with BlackRock’s Bitcoin Private Trust; says DCG Founder
Categories: Crypto News US
Central Banks can safely invest in Bitcoin with BlackRock’sBitcoin Private Trust; says DCG Founder
BarrySilbert, CEO of the Digital Currency Group, claims that BlackRock’s bitcoinprivate trust makes it simpler and safer for central banks to invest in bitcoinglobally, as reported by Cryptoslate.
Followingthe Thursday launch of the Bitcoin Private Trust, Barry shared some interestinginformation regarding BlackRock’s business dealings with central banks and madea suggestion that they would soon start investing in Bitcoin.
Backin 2020, the U.S. Federal Reserve recruited BlackRock to provide advice on howto control the bond market amid pandemic worries. Additionally, BlackRock andthe European Central Bank (ECB) collaborated in 2014 to settle the loanpurchase program.
Centralbanks on BlackRock’s client list can experiment with digital assets thanks tothe company’s private bitcoin trust, noted Cryptoslate.“Despite the steepdownturn in the digital asset market, we are still seeing substantial interestfrom some institutional clients in how to efficiently and cost-effectivelyaccess these assets using our technology and product capabilities,” Silbert,added.
Institutionalinvestors are moving into the market at a time when individual investors arepulling out. BlackRock emphasised that its institutional clients continue torequest safe exposure to bitcoin despite the deteriorating market conditions.